Asian Policy Makers Welcome Yellen

Oct 9, 2013 2:44 am ET

Policy makers in Asia reacted warmly to the news President Barack Obama will nominate Janet Yellen to head the U.S. Federal Reserve. Ms. Yellen has been more supportive of long-term easy monetary policies, which many in Asia welcome. Fears the Fed would quickly exit its extraordinary monetary stimulus, pushed up global interest rates and led to a sharp sell-off in Asian assets this summer.

The Fed’s decision not to cut back on its bond-buying program last month, added to Ms. Yellen’s dovish stance, have helped Asian markets recover some lost ground in recent weeks.

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